ParaFi Capital LP Acquires New Shares in Robinhood Markets, Inc. $HOOD

ParaFi Capital LP acquired a new stake in Robinhood Markets, Inc. (NASDAQ:HOOD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $5,655,000. Robinhood Markets makes up approximately 1.6% of ParaFi Capital LP’s holdings, making the stock its 8th largest holding.

A number of other large investors have also made changes to their positions in HOOD. Vanguard Group Inc. increased its position in shares of Robinhood Markets by 24.9% in the 3rd quarter. Vanguard Group Inc. now owns 94,437,054 shares of the company’s stock valued at $13,521,497,000 after buying an additional 18,824,923 shares in the last quarter. State Street Corp increased its position in shares of Robinhood Markets by 103.2% in the 3rd quarter. State Street Corp now owns 32,246,155 shares of the company’s stock valued at $4,617,004,000 after buying an additional 16,375,734 shares in the last quarter. Norges Bank bought a new stake in shares of Robinhood Markets in the 4th quarter valued at $1,202,160,000. Jennison Associates LLC increased its position in shares of Robinhood Markets by 95.7% in the 4th quarter. Jennison Associates LLC now owns 4,412,036 shares of the company’s stock valued at $499,001,000 after buying an additional 2,157,372 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Robinhood Markets by 23.9% in the 4th quarter. Morgan Stanley now owns 10,683,776 shares of the company’s stock valued at $1,208,335,000 after buying an additional 2,061,832 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Key Stories Impacting Robinhood Markets

Here are the key news stories impacting Robinhood Markets this week:

• Positive Sentiment: Robinhood’s securities arm received approval to underwrite IPOs, potentially expanding revenue opportunities and giving the company a bigger role in future public offerings. Robinhood Just Won Approval to Underwrite IPOs, Right Before SpaceX’s Blockbuster Market Debut. Here’s Why the Timing Matters.
• Positive Sentiment: SpaceX’s IPO sparked “record-breaking” traffic on Robinhood’s platform, highlighting heavy retail engagement and the value of its IPO-access business. Robinhood sees ‘record-breaking’ traffic after SpaceX stock debuts
• Positive Sentiment: Needham raised its price target on Robinhood to $97 and reiterated a buy rating, adding to bullish sentiment around the stock. Benzinga report on Needham price target raise
• Neutral Sentiment: Robinhood saw unusual options activity, with traders buying a much larger-than-normal volume of call options, suggesting heightened speculation around the shares.
• Neutral Sentiment: The stock also benefited from a broader lift in financial stocks and related retail brokerage names during Friday’s session. Sector Update: Financial Stocks Advance Late Afternoon
• Negative Sentiment: Robinhood’s platform experienced trading issues amid the surge in SpaceX-related demand, which could raise concerns about reliability during peak activity. HOOD Stock: Robinhood Buckles Under SpaceX IPO Demand, Users Report Trading Issues
• Negative Sentiment: ARK Invest reportedly sold shares of Robinhood, which may temper enthusiasm for some investors. HOOD Stock Gains Overnight: Cathie Wood’s ARK Sells Shares Even As Robinhood Stacks Up Fresh Catalysts

Insider Activity at Robinhood Markets

In other news, insider Steven M. Quirk sold 10,837 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $85.91, for a total transaction of $931,006.67. Following the completion of the transaction, the insider directly owned 81,989 shares in the company, valued at $7,043,674.99. This represents a 11.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.89, for a total transaction of $768,900.00. Following the transaction, the insider owned 432,849 shares of the company’s stock, valued at approximately $33,281,759.61. This represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders acquired 680,000 shares of company stock worth $55,306,560 and sold 571,602 shares worth $41,959,746. Corporate insiders own 19.95% of the company’s stock.

Robinhood Markets Stock Performance

HOOD stock opened at $93.19 on Monday. The stock has a 50-day moving average price of $80.09 and a two-hundred day moving average price of $92.02. The stock has a market cap of $83.92 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 2.33 and a beta of 2.35. Robinhood Markets, Inc. has a 1 year low of $63.51 and a 1 year high of $153.86.

Robinhood Markets (NASDAQ:HOOD) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Robinhood Markets had a return on equity of 21.39% and a net margin of 41.12%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts forecast that Robinhood Markets, Inc. will post 1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price objective on shares of Robinhood Markets in a research report on Tuesday, June 9th. Zacks Research upgraded shares of Robinhood Markets from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Robinhood Markets from $75.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Truist Financial lowered their target price on Robinhood Markets from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Robinhood Markets in a report on Friday, March 27th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $110.73.

About Robinhood Markets

Robinhood Markets, Inc (NASDAQ: HOOD) is a U.S.-based financial services company best known for its mobile-first brokerage platform that aims to “democratize finance for all.” Founded in 2013 by Vladimir Tenev and Baiju Bhatt and headquartered in Menlo Park, California, the company built early traction by offering commission-free trading and a simplified user experience that attracted a large base of retail investors.

Robinhood’s core products and services include a mobile app and web platform for trading U.S.